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Stephen Bane

Dispute Resolution and Commercial Litigation, Professional Negligence, Shareholder, Director & LLP Disputes

"Stephen Bane...noted for his financial services expertise" Legal 500, 2019

Stephen is a solicitor working in the dispute resolution department at Cubism Law.

He has over 18 years’ experience in working for both private clients and as in-house counsel in the financial services industry.

Stephen is a solicitor working in the dispute resolution department at Cubism Law. He has over 18 years’ experience in working for both private clients and as in-house counsel in the financial services industry.

Since 2009 Stephen has been dealing with all aspects of professional negligence and commercial disputes with a focus on financial services and financial services industry disputes. He has dealt with complex business disputes, especially those arising from professional negligence. 

Prior to his career in private practice, Stephen was in-house counsel at GE Money advising on regulated financial services matters, Consumer Credit Act compliance and general commercial matters.  

He was previously involved in financial services compliance, including transitioning a national mortgage brokerage to the regulatory regime under the Financial Services and Markets Act 2000 and managing mortgage, loan and insurance sales-related disputes and litigation.

Services:

  • Commercial Dispute Resolution
  • Professional Negligence claims
  • Employee claims

Financial services sector litigation

  • Ongoing claim against a UK bank for mistreatment of its customer following the financial crisis of 2008 in which £500,000 has already been recovered for the client
  • Counterclaims in misrepresentation and breach of contract against a national financial services consolidator (a subsidiary of a multi-billion pound global insurer) recovering multi-million pound losses incurred by several IFA businesses
  • Successful recovery for an unauthorised mortgage lender, including a claim for relief under s.28(3) FSMA which was appealed: http://www.bailii.org/ew/cases/EWCA/Civ/2011/542.html
  • Successful outcome for three highly regarded Lloyd’s of London underwriters who had been refused their contractual profit commission and wrongfully dismissed: http://www.bailii.org/ew/cases/EWHC/QB/2018/2137.html

Professional Negligence - financial services and legal

  • Settlement following a High Court claim against a legal practice purporting to specialise in financial services for the negligent conduct of a multi-million dispute between an IFA and a consolidator
  • Settlement following a claim against a firm of solicitors specialising in financial services litigation for their negligent conduct of a multi-million pound financial services industry dispute at first instance and on appeal
  • Ongoing claim against an IFA and SIPP provider in respect of a loan to the IFA personally out of the client’s pension
  • Preparing and conducting a multimillion pound claim against a City legal practice for their negligent advice on a development contract with a local authority
  • Preparation and conduct of a highly complex claim against a City solicitors’ firm in respect of their alleged negligent advice on litigation funding procured for multimillion pound litigation in the High Court brought by an off-shore property investment fund against a South African bank and its Irish subsidiary, including obtaining ATE insurance and a guarantee as security for costs
  • Settlement following mediation in a claim against a London solicitors’ firm for negligent advice on security over a valuable London property
  • Successfully recovered (following mediation) against solicitors and counsel in respect of their negligent conduct of failed chancery litigation between business partners

Professional negligence - business and property

  • Claim against a firm of accountants for facilitating the client’s exclusion from the family business. The trial ran for 23 days and was preceded by several successful, reported, interim applications

General Commercial Litigation

  • Claim by a property developer against a local authority for breach of a multimillion pound joint venture agreement
  • Preparing multiple claims against a major national franchisor operating a “churn model” for misrepresentation and breach of contract
  • Successful counterclaim against the freeholder of a large and prestigiously located block of central London flats in respect of misrepresentations inducing a lease and million pound refurbishment
  • Claim in misrepresentation and breach of warranty of authority in respect of the occupation of a multi-storey car park involving two sets of High Court proceedings, ultimately pursuant to confidential terms before trial
  • Various disputes in respect of outstanding costs and the recovery of documents with clients’ former solicitors

2017- Present: Solicitor, Cubism Law

2009-2017: Solicitor, Neumans LLP

2004-2009: Legal & Compliance, GE Money

1999-2004: Legal & Compliance, The Mortgage Group / Capital Credit

1992-1999: Local authority trading standards enforcement

"Stephen Bane...noted for his financial services expertise" Legal 500, 2019

Stephen is part of Anjan Patel's team which is described by the Legal 500, 2019 as "highly responsive' and 'accessible' and 'specialises in representing claimants in high volume professional negligence cases in the legal, finance, construction and property sectors"